How and why LISK will change the game rules on decentralized applications ?

Hi steemians !

On this post, we want to see the blockchain or the cryptocurrency that will be perhaps the future of the decentralized application ! We will talk about the LISK :)

LISK, it's a bit like Ethereum, it's the same thing ! but it's very different from Ethereum, and in this case if today we talk about LISK, it's because there was a big news that happened in February about LISK

LISK's road map

This is very important since LISK did a rebranding February 20, a rebranding as "Antshares" that has made a rebranding to NEO :). So it's really a work of magnitude, a change of scale, that could possibly make a lot of talk about LISK and should to raise its price if there is really an interest around LISK. So suddenly his roadmap for 2018 is really a huge roadmap that has a lot of interesting things .

Thank you for taking the time to read this post !

The LISK project started in 2016 by Max Kordek and Oliver Beddows. LISK offices are located in Zug, which is a bit of what is called the Crypto Valley in fact, it is an area where we invest a lot on projects related to to the cryptocurrency, the apparent baby of LISK could actually deceive us LISK appeared in 2016, but it is a fork of "cryptic" that appeared in 2014.

The LISK project has been much talked about in 2016 because he had broken a fundraising record via an ICO, so at that time it was a record !! but it was quickly beaten by Wave the same year ! And in the LISK instance had raised an ICO so LSK, the token LISK, 100 million tokens which allowed to raise about 7 million 500 thousand dollars at the beginning "a lot of money :)".

LISK it was two people possibly 4 or 5 people !? Today there are 30 people who work on LISK, is really a company that grows up, and if we go to the figures so LISK is worth $19,27 per unit, for a market cap of 1.98 billion dollars, and a quantity of tokens issued so far 118 million LSK. So to recall an ICO 100 million, we already had 100 million premined at launch of LISK and there are tokens that are created by what is called the "forging". I will come back when i will detail the technical aspect of LISK, but here are some tokens that are created that's why since the 18 million token that have been created the ambition of LISK.

Rather simple to understand unless we know too much what is the decentralized applications. So the mission of LISK is to offer a platform that would allow to maintain and develop decentralized applications. The concept of decentralized application is what that thing that has grown a lot in the crypto world, because the cryptocurrency is still a novelty that allows to generate consensus.

Is partly why now we talk a lot of decentralized applications with the blockchain and cryptocurrency, the principle of a decentralized application as its name indicates, it is to be a program on a decentralized network :) which works on a decentralized network. Imagine for example Facebook so it is a web site, we can not call it an application, when one uses mobile it is a good application !! there is a question of we see it !! but here is Facebook uses a server that belongs to Facebook so at that time we call it a centralized server, is managed by an entity called Facebook.

In the case of the decentralized application there is not an entity that manages the data of an application!! Is in fact to a large number of actors within a network that generates a consensus... that use precisely the protocols of a cryptocurrency.
Given for example Ethereum we generate a consensus of proof of work on LISK which 'we will come back to it generates a consensus on proof of stakes. In any case what to remember it If it is several actors who validate the data according to a consensus according to rules for which are not aware of the problems related to the centralized system.

One could say that the decentralized application does not bring much, then I will mention two problems related to the centralized application like Facebook and Twitter as I do not know any current application today I will mention two problems related to so-called centralized applications.

The first problem is the privatization of the data is therefore given to its users. The companies that manage these applications where they necessarily seek profit and what gives them the profit is the data, and Facebook wins a lot with this data of its users, and so there can be problems of trust on the part of users. Because there is no transparency and because we do not know how they are going to use the data.
Knowing that they are looking for profit it can push to some problems...

The second problem on centralized application, it is the good censorship then there I yield beforehand that there are divergent opinions which are people who go to say that censorship is a good thing, of other people who will say that it is a bad thing, that it is a deprivation of the freedom of expression, but in any case in the decentralized application one can not really censor a content up to a content it replicates within all the actors of the decentralized network.

So at that moment a content not really censor, it is just replicated within all the actors it is really necessary to destroy it in all the actors !! which becomes quickly impossible ! then if we observes a small little user trends of networks like Facebook, Twitter or Youtube we can see that there is a lot of criticisms about the censorship in its social networks, but also that there is a problem with the way in which they manage our data, and it's a lot discussed and the proof is that Facebook is trying hard to defend itself at this moment.

So it's a safe bet that the decentralized application can gain ground whit its properties that ultimately offset the problems related to so-called centralized applications that was, it was the decentralized application.

Now I think that you have an idea of ​​what it is and why there is interest around this new technology !

So we are going to talk about LISK although we can not talk about Ethereum before, because the terms already make the decentralized application indeed Ethereum propose to do already decentralized applications, if you do not know what it is they Ethereum ? Released in 2014, Ethereum offers a smart contract system to publish decentralized applications.
There are two major problems in fact that one notes in relation to this operation.
The first problem is that this is not scalable, in this case we have already seen with a game called Cryptokitties so cats that overload the Ethereum blockchain due to the inherent operation of Ethereum, and also it is not very secure to the extent that when there is a flaw in a smart contract it can lead to a flaw in many others smart contracts, and then it can be very serious !! anyway, a smart contract must see it as a program, so suddenly directly a decentralized application and when there is a huge demand on this contract overload the network since the contract is managed directly by the Ethereum network, and so it is a big problems of Ethereum right now, that may be solved by plasma, but is not the subject.

We talk about LISK ;)

LISK that does not use any smart contract, that proposes to use LISK are "sidechains"
So the principle of the sidechain is that we have a master** Blockchaine** which the Blockchaine of LISK in this case, and the principle of the sidechain and can transplant from a block to create a new blockchain like a "Fork", except that it does not really have the nature of a Fork.
A sidechain it is really brought to survive because a fork that can be brought to death when there is a reorganization, but the case of the sidechain it's really something that is part of the protocol and so there is a new linked block that is created and from this new block chain we are able to interact with the blocks and actors of the network to manage the data within this decentralized network. The nature of sidechain is that it can communicate with the master blockchain that is to say that little retransfer of the value to the master blockchain.

The principle of the sidechain that will allow scalable since the overload will not reside on the LISK blockchain will never be overloaded, because of the decentralized applications as it happened with Ethereum and cryptokitties the demand will be loaded according to the decentralized applications on their sidechain !! so If there is an overload that has too many requests it will be the problem of a single sidechain, but not the problem of master blockchain.

The consensus algorithm integrated by LISK, is a consensus algorithm finally simple to understand and easy to describe, so it is "Delegated Proof of Stake" so a proof of stake with representatives the principle is that within the network there are 101 delegates. Delegate is responsible for verifying transactions and validate them and when they validate them they are rewarded with **LISK ** :). So that's where we talk about forging LISK chose to use this term instead of mining for BITCOIN

So we we use the term "forging" why not, the delegates are elected by the users of LISK "it is almost the same system of the Witnesses on the block steem", the weight of a vote depends on the quantity of LISK that voting is the principle of the proof of stake there is always an aspect of how many tokens we liked we have more tokens we do not matter in the network it's really the principle of the proof of stake, and in this case anyone may want to introduce themselves to present one must spend 25 LSK which represents about $475. So it is not too bad anyway, and then it must be promoted for that the users of LISK give their voice just small interesting point is that what LISK allows to use a pseudo-name rather than an address so in reality the pseudo-name is chosen when presenting itself in the delegates when we pay the 25 LSK. so we pay more or less s $475 to choose a LISK nickname.

LISK is an inflationist cryptocurrency so by the "forging" LISK blocks gives new LSKs, that are created when the block is forged in 2016 the reward by "forging" was 5 LSK, knowing that a block is forged every ten seconds then the next year it goes down to 4 LISK the following year to three 3 LSK ...until we reach a single LSK by forging blocks.

When we reach 1 LSK this reward is kept so we keep a LSK and that's why LISK is an inflationist cryptocurrency it comes from the fact that for life LISK will produce all the time 1 LSK by "forging", so every ten seconds.

For reminder and finally a big point that makes that LISK has a lot of potential is that it is based on the language javascript using the node.js infrastructure for the side actually serves, what it means is that when talking about decentralized applications it takes developers, and for there to be developers who develop decentralized applications it is necessary that this either rather common languages ​​for example Ethereum has developed its language which is "solidity" and it is not easy to the adoption, for LISK we are on a very well known language which is javascript a language of the web, and there is a lot of devel fears who know javascript because it is a language that is rather simple to learn.

The big step to take up on their roadmap is the output of their SDK so "SDK" it means "Software Development Kit", so it is a toolbox to develop decentralized applications it will clearly be the cornerstone of LISK this is what will make LISK cryptocurrency useful, to be able to develop decentralized applications so it's really something to keep out of the corner of the eye and the alpha out at the same time as the rebranding of February 20...,

There are two significant steps namely a decentralized marketplace that is enormously fashionable but for the case of LISK, that is really interesting as I recall LISK works with sidechain said **sidechain said a token !! This is why each of us therefore sidechains each decentralized application and there is really an interest in making a decentralized exchange within LISK to be able to exchange all the tokens that come from the sidechain.

In conclusion, LISK is a platform for creating and publishing decentralized applications and it will also be a decentralized market place to interact with the different tokens that come from different decentralized applications.

We go to advantages and disadvantages

Advantage number one
I note it is inevitably that it is on the language javascript which already has a huge adoption, and suddenly it is a safe bet that LISK will have if their SDK their development of kite; their toolbox is well made there will also be a huge adoption.

Advantage number two
Another significant advantage is the environment where LISK develop in this case they have an office in Berlin it is a good office that they have a berlin, they also have premises to zug or at least a support of some industries to zug so that's what is called crypto-valley, and it's not for nothing it's actually there has big actors in cryptocurrency in "zug" so that's a very big advantage.

Advantage number three

Source
The LISK team is developing enormously personally it's been a while that I I've been LISK almost from the beginning, but almost at the start they were really few it was few employees so the two founders and some others people, and today they are thirty !! so they were maybe five and today 30 :) so really the team is developing and it's really good.
Check the LISK team here

Disadvantages number one
At the level of the disadvantages I did not really raise the level of art of LISK, but here we are rather on the speculative aspect, in this case their SDK is still not out we do not know if it will be well !!? done suddenly invest for LISK is speculate on the fact that their SDK is well done and not too buggy.

Disadvantages number two
a second infrastructure disadvantage node.js, so it's an advantage since it pushes adoption since it's Javascript but also the disadvantage that node.js it is not really optimized to make a low level protocols, so a cryptocurrency protocols that's why in general cryptocurrency are based on C++ is really the most used language, because it is a language that is well intermediate between a language low levels of power manipulate for example memory addresses. I have not gone into too much details, and the problem of node.js so Javascript is that it offers us not too much opportunity to optimize its protocol. So they are faster and more efficient and there is very important for a cryptos, this is one of the disadvantages of LISK
Disadvantages number three
Finally the last disadvantage is that LISK does not speak enough sidechain We do not really know how they will integrate ? and personally as long as I do not see it and inevitably I have some doubt.
How they will integrate it ? is that it will be as effective as they claim ? What ultimately it will be more effective than smart contracts ? On paper it seems !! But still once, it's still the problem and what in reality it will be effective!? How they will handle for example the actors ? Who will be on the sidechain ? How will they manage the reward on the sidechain ? there are all these things to consider!! We do not really know ! and so for me it's a problem ! So it's something to follow especially that it will come out this year, at least there will be much more information this year and that's really something to follow to make the best decision to invest on LISK it was all for LISK so personally I'm invested LISK since 2017!! so LISK I know well enough I speak but I spoke about it objectively :) on this post except inevitably always for the advantages and disadvantages, it is rather my perspective that I give. So it means since i invested in LISK it means that I believe in the potential of LISK that i valid the concept of LISK. But it should be noted that their SDK we do not really know if it will be good ? and it is very important and there is that the developers who will judge !! Are also their sidechain system we do not really do not know how they will integrate it ? and that's really a point to note.

Enjoy this promo video about LISK !!

Source

I say it as much for me as for you if you invest in LISK, anyway I think it's a cryptocurrency that has strong potential, because it's really something that I think has a demand, and that is only growing.

Remember, the best investment is the long term !!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice.
Please conduct your own thorough research before investing in any cryptocurrency.